— Sets record as the longest-serving secretary of the ministry
ISLAMABAD: In a swift move by the federal government, Saleh Ahmad Farooqui, a BS-22 officer of the Pakistan Administrative Service, has been reinstated as Secretary of the Ministry of Commerce (MoC) less than a month after his transfer from the ministry.
Notably, Farooqui holds the distinction of being the longest-serving secretary in the history of the ministry. Farooqui was transferred from the MoC and directed to report to the establishment division on March 4, 2024.
Muhammad Khurram Agha assumed the position following Farooqui’s departure, only to be reassigned as Secretary Interior, leaving the post vacant once more.
After a mere 28 days since his transfer, Farooqui has been reappointed as Secretary of Commerce, effective April 2, 2024. Documents confirm his unparalleled tenure in the ministry, attributed apparently to his extensive experience within the ministry and its affiliated departments. Farooqui has held the position of Secretary MoC since July 2020.
Prior to his tenure as Secretary MoC, Farooqui served as the Secretary of the Trade Development Authority of Pakistan (TDAP), an attached department of the ministry. Later, he was posted as Special Secretary in the ministry in June 2020.
Analysis of export/import trends:
In recent years, Pakistan’s trade landscape, as per PBS data, has witnessed remarkable shifts, encapsulating both challenges and triumphs. From the fiscal year 2019-2020 to 2022-2023, the nation’s export and import figures reflect a narrative of resilience, adaptation, and steady growth.
In the fiscal year 2019-2020, Pakistan’s exports stood at $21,394 million, while imports amounted to $44,553 million. Despite facing global economic uncertainties and trade disruptions, Pakistan managed to maintain a robust export performance.
The following fiscal year, 2020-2021, marked a notable uptick in both exports and imports. Exports surged to $25,304 million, signaling a positive trajectory amidst the prevailing challenges. Similarly, imports witnessed a significant increase, reaching $56,380 million, as imports were relaxed by the government.
As the world grappled with the repercussions of the COVID-19 pandemic, the fiscal year 2021-2022 posed unique hurdles for Pakistan’s trade sector. Despite these challenges, Pakistan’s exports soared to $31,782 million, marking a substantial growth trajectory.
This remarkable achievement underscores the resilience and adaptability of Pakistani exporters in navigating the evolving global trade landscape. However, imports surged to $80,136 million, highlighting the increased demand for essential commodities and raw materials amid the pandemic-induced disruptions.
In the fiscal year 2022-2023, Pakistan’s trade dynamics witnessed a slight recalibration. While exports moderated to $27,724 million, indicating a stabilization phase post-pandemic, imports also experienced a marginal decline, settling at $55,198 million. This phase reflects Pakistan’s concerted efforts to strike a balance between export-led growth and prudent import management, fostering sustainability and economic stability.
